https://www.taxtmi.com/caselaws?id=110783 Where a financial institution proceeds under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 after a winding-up order, the Act's special and overriding scheme gives the Debts Recovery Tribunal and Recovery Officer exclusive jurisdiction for debt recovery and sale of assets. On that basis, leave of the company court is not required to initiate or continue recovery proceedings, execute the recovery certificate, or conduct the sale, and the sale is not void for want of such leave. The official liquidator, however, retains the right to have workmen's dues determined and to seek apportionment from the sale proceeds under section 529A of the Companies Act, 1956. en-us Thu, 30 Mar 2006 00:00:00 +0530 Wed, 18 Apr 2012 15:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110783 Where a financial institution proceeds under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 after a winding-up order, the Act's special and overriding scheme gives the Debts Recovery Tribunal and Recovery Officer exclusive jurisdiction for debt recovery and sale of assets. On that basis, leave of the company court is not required to initiate or continue recovery proceedings, execute the recovery certificate, or conduct the sale, and the sale is not void for want of such leave. The official liquidator, however, retains the right to have workmen's dues determined and to seek apportionment from the sale proceeds under section 529A of the Companies Act, 1956. Case-Laws Companies Law Thu, 30 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110783